Market Overview

Time Warner Cable to Buy DukeNet Communications for $600M in Cash

Time Warner Cable Inc. (NYSE: TWC) today announced that it has entered
into a definitive agreement with Duke Energy Corporation and investment
funds managed by Alinda Capital Partners to buy DukeNet Communications,
LLC for $600 million in cash, including the repayment of debt.

DukeNet, based in Charlotte, N.C., is a regional fiber optic network
company serving customers in North Carolina and South Carolina, as well
as five other states in the Southeast. With a fiber optic network of
over 8,700 miles, DukeNet provides data and high-capacity bandwidth
services to wireless carrier, data center, government, and enterprise
customers. Duke Energy owns 50 percent of DukeNet. The Alinda investment
funds own the remaining 50 percent.

See full press release

Posted-In: News M&A

 

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